Commonwealth Numbered Acts

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FINANCIAL SERVICES COMPENSATION SCHEME OF LAST RESORT LEVY ACT 2023 (NO. 44, 2023) - SECT 10

Imposition of levy--unpaid claims, and AFCA's unpaid fees, for complaints given to AFCA before the accumulation recovery day

                   Levy is imposed on a person for the first levy period if:

                     (a)  at any time during the 12 months before the start of the first levy period, the person is a body regulated by APRA, other than:

                              (i)  a private health insurer covered by paragraph 3(2)(ea) of the Australian Prudential Regulation Authority Act 1998 ; or

                             (ii)  a trustee covered by paragraph 3(2)(f) of that Act; and

                     (b)  section 3C of the Taxation Administration Act 1953 applies to the person for the 2021-2022 income year; and

                     (c)  the person's total income for that income year (for the purposes of paragraph 3C(3)(b) of that Act) is one of the 10 highest of all the persons to whom both paragraphs (a) and (b) apply.


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